SPRINGFIELD — Legislation changing the minimum amount of coverage farm mutual insurance companies are required to provide, supported by State Senator Paul Faraci, was signed into law Friday.

“Adequate reinsurance allows insurers to offer affordable premiums for farmers, making insurance coverage more accessible,” said Faraci (D-Champaign). “This will help our farmers fully invest in their operations without being burdened by excessively high insurance costs.”

 Senate Bill 765 requires farm mutual insurance companies to have and maintain adequate catastrophic reinsurance, rather than unlimited catastrophic reinsurance—which limits the company’s exposure on any loss to 20% of its policyholders’ surplus. ACR provides coverage up to a predetermined limit, which allows the insurer to manage costs more effectively. UCR, on the other hand, can incur higher premiums due to the increased risk transferred to the reinsurer.

The Illinois Department of Insurance had previously interpreted the Farm Mutual Insurance Company Act as requiring unlimited catastrophic aggregate reinsurance coverage. This would have led to 44 farm mutual insurance companies in Illinois being unable to offer coverage this year under the requirement, potentially leaving over 51,000 policyholders uninsured. Under the new law, companies will allow broader access to reinsurance products and risk capital, helping to avoid disruptions in the farm mutual community. This will allow the marketplace to correct and set appropriate pricing for policyholders, ensuring farmers have access to coverage.

“Illinois relies on a stable agricultural sector for economic growth,” said Faraci. “By allowing farm mutual companies to provide ACR, more farmers will be able to insure their crops against potential losses, helping to prevent financial crises and agricultural disruption due to natural disasters.”

Senate Bill 765 was signed into law on Friday and goes into effect immediately.

DANVILLE – Especially during the winter months, socks are among the most-requested articles of clothing by people experiencing homelessness, leading State Senator Paul Faraci to continue the work of State Senator Scott Bennett by hosting a donation drive collecting new socks for shelters across Vermilion County.

“Warm socks are something we take for granted and a luxury for those experiencing homelessness,” said Faraci (D-Champaign). “With your help, we can provide a little bit of comfort to those in need during the harsh winter months.”

Worn-out or ragged socks put people at serious risk of foot disease and, during the winter months, in severe danger from the cold. As a result, new socks are greatly needed by those experiencing homelessness — but they are the least-donated clothing item at homeless shelters.

From now until Dec. 15, community members are encouraged to donate new socks for men, women and children at the collection locations below:

• Senator Faraci’s District Office | 201 N. Vermilion St., Suite 323, Danville
  • Monday to Friday: 8 a.m. to 4 p.m.
• Robinson Chiropractic | 3595 N. Vermilion St., Danville
  • Monday to Friday: 8 a.m. to 6 p.m.
• Westville Village Hall | 201 N. State St., Westville
  • Monday to Friday: 7:30 a.m. to 3 p.m.

Donations will benefit Crosspoint at the Y Homeless Program, Danville Rescue Mission (Vermilion Community Restoration) and Fair Hope Children’s Ministry.

For questions or additional information, contact Senator Faraci’s office at 217-442-5252.

SPRINGFIELD – Under a proposal led by State Senator Paul Faraci, savings accounts for people living with disabilities, known as the Senator Scott Bennett ABLE Program, will be expanded.

"This crucial measure seeks to enhance the ABLE program, empowering individuals living with disabilities and their families with greater financial independence, while safeguarding essential benefits,” said Faraci (D-Champaign).  “These changes reflect our commitment to inclusivity and support for those who need it most.”

House Bill 3641 makes expansive changes to the Senator Scott Bennett ABLE Program, which helps people living with disabilities and their families save and invest for expenses related to living with a disability without jeopardizing their eligibility for certain government benefits. The measure would allow people over the age of 18 to start an IL ABLE account and enable the accounts to conserve additional benefits, such as VA benefits.

“It's our duty to empower those living with disabilities and their families to navigate life's challenges with dignity and autonomy,” said Faraci.

Faraci serves as a chief cosponsor of House Bill 3641.

It passed the Illinois Senate with bipartisan support and awaits further action in the House. To read more about the Senator Scott Bennett ABLE Program, including benefits and eligibility, click here.

CHAMPAIGN – State Senator Paul Faraci was proud to accept the 2023 Legislator of the Year award from the Illinois Association of School Social Workers.  

"I am proud of the work we were able to accomplish this year to protect students and educators,” said Faraci (D-Champaign). “School social workers play an important role in supporting our children, especially children living with disabilities.”

The Illinois Association of School Social Workers is the largest school social work organization in the world. Each year they honor legislators in Illinois who have worked hard to promote and advocate for students in the public education system.

Senator Faraci sponsored House Bill 3680, which takes effect Jan. 1, 2024. Under Faraci’s measure, extra accommodations needed for a student during emergencies must be taken into account when developing their Individualized Education Program (IEP) or a federal Section 504 plan. It also requires administrators and school support personnel to include a student's IEP team or Section 504 plan team when making a decision about whether to exclude the student from a walk-through lock down drill.

“I will continue to stand with educators across our state every step of the way,” said Faraci. “Educators’ roles are so important for our community, as they mentor the next generation and help them be successful.”

Faraci received the award at the Illinois Association of School Social Workers’ 53^rd Annual Conference in Springfield.